The “As-Is” Lakeview Condo Unit: 950 W. Barry
This 2-bedroom unit at 950 W. Barry in Lakeview looks like it is bank owned just a little over 2 years after its purchase.
Listed in mid-July as “corporate owned” and “as-is” – it has recently been reduced $24,000.
(The public records do not yet show this property as bank owned but I’m assuming it is from the listing.)
This unit appears to have its kitchen intact, including the stainless steel appliances, granite counter tops and cherry cabinets.
Yes, that’s the El right there.
Unit #3 in the building is also a distressed property buts needs much more work. It is under contract at $300,000.
Is this unit much of a deal at its current price?
William Volpe at Parkvue Realty has the listing. See the pictures here.
Unit #2: 2 bedrooms, 2 baths, no square footage listed
- Sold in April 2008 for $438,000
- Lis pendens filed in March 2009
- Originally listed in July 2010 for $399,000
- Reduced
- Currently listed “as-is” for $375,000 (parking included)
- Assessments of $130 a month
- Taxes of $6234
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 13×12
- Bedroom #2: 12×8
- Living room: 18×19
- Kitchen: 14×16
Conveniently located right next to the El.
Nice place, but overpriced by $100,000 at least.
Very pretty finishes, but how is the soundproofing? With good soundproofing, you can live next to the el, which is very convenient. But without it, the things sound like they are rolling through your living room.
I find myself liking this place, but $375K feels like about $75K too much, given where prices seem to be going in the area.
hahahahahaahahahah, plllllllllllllst, hahahhaahahqahahaaa
its on the El, its 375k, it looks like 4 units and two are foreclosures/shortsales, and the best part hhahahahaaha its “as-is”.
sound proof all you want, but once you want fresh air, sound proof gone.
This will be perfect for those deaf power couples making 150k a year!
I always saw those new brick 4 flats next to the tracks and I was thinking who in the hell is gonna buy those? I guess nobody 🙂
I think this place will sell around 325-340. Before opening your mouth, do the comps. This is newer construction, with upgraded finishes and a parking spot in south lakeview. Try entering those data points on your real estate search in this area and see what you come up with. Then post whatever nonsense you want.
clio-
Does your fancy real estate search data machine have a field for “it’s on the el?”
Because, um, it’s on the el.
Everytime I see buildings like this, I think of the scene from the Blues Brothers movies that shows their apartment, in which everything shakes violently everytime the train goes by.
I walk this block all the time. There is lots of newish construction. Just about every building/unit is for sale. I’ve always wondered who bought there. Not physically appealing due to the big lot on the south side of the street that is supposed to be developed, plus the train noise.
Remind me not to have Clio show me properties when I start looking to buy.
“Does your fancy real estate search data machine have a field for “it’s on the el?”
Because, um, it’s on the el.”
today is a fricken great day!!! thank you B for the second daily laugh (sabrina’s list was the first).
lets look at the positive side here…. people on this block should love the fact this build/condo exists. it creates a nice sound buffer for them.
so on behalf of the people on this block we thank you Mr. Builder for going ballzout during the boom. if it wasnt for you, the banks lending you the money, and the burb big ten transplant buying it, this buffer would not allow us to get fresh air in quiet.
There is always gang signs on the side of the building.
“Because, um, it’s on the el.”
Here we go again – everyone wants a mansion on the best block for 100k. u people complain and complain and bitch about prices being too high, but u don’t want to sacrifice. I’m not saying you have to live next to the el – but YOU CAN’T HAVE EVERYTHING YOU WANT!!! It is truly what is wrong with many in the “younger generation” (boomer kids). They believe they are entitled to the most luxurious places in the most desriable locations with little or no effort on their part. I, for one, am glad they are getting a kick in the ass. They need it (ok – I am ready for the onslaught)
The building one to the east has one of those carpet-covered cat climbing things in the front window of the lower unit. One day I noticed that it was used for stuffed cats, rather than real cats. I chuckled away to myself every time I walked by the place. Then I found out it was occupied by an old man, who can’t take care of real cats, and I felt like a real douche.
@Barb
Do you mean the building to the east with the bar (Matilda?)? Are they tags or gang symbols?
“lets look at the positive side here…. people on this block should love the fact this build/condo exists. it creates a nice sound buffer for them.”
West of the tracks. B/t the tracks and Matilda. So not much help to anyone.
Clio-Sure, there’s a lot of unrealistic expectations out there, but those are not the people who are going to end up buying anyway. All talk and no action, so don’t waste your time berating people.
I made my first purchase back in 1997. It was a townhome on the L, it was a prime LP location and I could not afford the additional 50k jump to move across the street. Of course, construction was actually soundproof and solid so I hardly noticed it.
This unit gets $300 tops. In today’s market there is way too much out there to bother buying on the L unless it is a significant discount off comps.
another bonus of this place is its stumbling distance from Big City Tap
(LOL)
I should say that it is tagged on the side of the building at times towards the ‘L’.
I do think that this unit will go for 300K for the purpos of renting it out. Renters live on the “L” all the time.
I’m sure the association has healthy reserves.
And with all those reserves I’m sure lender’s can’t wait to give a mortgage on this place…
“another bonus of this place is its stumbling distance from Big City Tap”
I’d hardly call that a bonus
hence the giant (LOL) after I wrote that…
I mean who wouldn’t want to live a block from the worst bar in the city?
Big Shitty definitely sucks, but I think it would be lucky to crack the top 10 of the worst bars in the city. My nominee would probably have to be Tai’s Til 4
I dunno, I went to “Epic” one night… that has to be in the top 10 as well
But big city is terrible, but lets all remember my golden rule…
“Nothing good ever happens after 2AM”
“Nothing good ever happens after 2AM”
thank ted but korean elvis disproved that.
“Everytime I see buildings like this, I think of the scene from the Blues Brothers movies that shows their apartment, in which everything shakes violently everytime the train goes by.”
Jake: How often do the trains go by?
Elwood: So often you won’t even notice.
Re: nasty-ass bars, I agree that Tai’s til 4 is up there, but I’m throwing in a vote for Marie’s Riptide.
At least they didn’t try to hide the EL in the photo, I didn’t even have to go to the map to see this bad location
No the unit is not a good deal at this price. Not because of fundamental factors that might be affecting the larger RE market (ie: demographics, employment, etc), but rather a more technical indicator: competition.
MLS #: 07558014
3/2.5 in LP near the El for 350k. Looks a heck of a lot better than this cookie cutter McCrapBox.
It has nothing to do with being near the el tracks: it has to do with being able to get a bigger & better property in a better location for cheaper!
“Try entering those data points on your real estate search in this area and see what you come up with. Then post whatever nonsense you want.”
LOL I already found a nicer, bigger place further south in my real estate search. They have a shot at 325k, but not chasing the market down the way they currently are.
Oh yeah and that Lincoln Park TOWNHOUSE is not a condo its a townhouse.
Its going to be fun watching all the idiots who bought McCrapBoxes try to compete with selling against the REAL HAVE’s who own townhomes and SFH’s in the Green Zone who are able to sell at non-inflated bubble pricing. These McCrapBox owners were largely non-discerning plebs who were have nots masquerading as haves via over-leveraging themselves.
clio said;
“It is truly what is wrong with many in the “younger generation” (boomer kids). They believe they are entitled to the most luxurious places in the most desriable locations with little or no effort on their part. I, for one, am glad they are getting a kick in the ass. They need it (ok – I am ready for the onslaught)”
You sure you mean “boomer kids” not “boomer’s kids”?
Boomers were born between between 1947 and 1963, Gen X between 1964-1984, and Gen Y between 1985-2005. Even if you were born in 1963 on the cusp of Boomer/Gen X, that’s already 47 years old. Not quite “kids” at this point in time, IMO.
No – I meant the boomer’s kids (late Gen X/early Gen Y)
logansquarean,
I was given different definitions. I was born in the late 70s and earlier in life was told I am a member of Generation ‘Why’. Sociological profilers need to get their shit straight apparently. I also never remember being referred to as “generation X”. If you think 2005 is Generation Y I think you are a moron.
Ever heard of millenials? Thats after GenY and roughly coincides with those born after 1988.
GenY is 2005? LMAO. Have you heard of new inventions called microwave popcorn, the PeeCee or the internet? I’ve even heard there are phones you can take with you on the go.
hey bob, chillax there.
I’m just going by what I read.
Here’s a more flexible timeline outline, if yer gonna be all snarky about the whole thing;
http://en.wikipedia.org/wiki/List_of_generations#List_of_generations
Me? I’m a cusper, born late in the Boomer phase, and really don’t feel like I fit in there. I joke that I was born too late to be a hippie, so I was a punk rocker instead!
And remember, it’s just a short walk (or for the exercise-challenged, Belmont-to-Addison L ride) to Wrigley!
Buy it at this bargain price NOW – so you can sell it at a huge profit when the Cubbies win it all in…oh, maybe, 2020…
puke